Netflix (NFLX) was Reiterated by Needham to “Buy” while Lowering the Price Target of the company shares to $ 115 from a previous price target of $125 . Needham advised their investors in a research report released on Apr 19, 2016.
Many Wall Street Analysts have commented on Netflix. Shares were Reiterated by Mizuho on Apr 19, 2016 to “Neutral” and Lowered the Price Target to $ 109 from a previous price target of $120 .Shares were Reiterated by Pivotal Research Group on Apr 19, 2016 to “Buy” and Lowered the Price Target to $ 145 from a previous price target of $155 .Shares were Reiterated by Topeka Capital Markets on Apr 19, 2016 to “Buy” and Lowered the Price Target to $ 139 from a previous price target of $142 .
On the company’s financial health, Netflix reported $0.06 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Apr 18, 2016. Analyst had a consensus of $0.03. The company had revenue of $1957.70 million for the quarter, compared to analysts expectations of $1965.76 million. The company’s revenue was up 24.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.77 EPS.
Netflix closed down -3.11 points or -2.79% at $108.4 with 3,28,16,416 shares getting traded on Monday. Post opening the session at $109.9, the shares hit an intraday low of $106.02 and an intraday high of $110.7 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.
In a different news, on Apr 7, 2016, Richard N Barton (director) sold 2,800 shares at $104.06 per share price. According to the SEC, on Mar 23, 2016, Reed Hastings (CEO) sold 78,827 shares at $100.99 per share price. On Dec 3, 2015, Jonathan Friedland (Chief Communications Officer) sold 1,309 shares at $127.31 per share price, according to the Form-4 filing with the securities and exchange commission.
Netflix Inc. is a provider of Internet television network. The Company has over 57 million streaming members in over 50 countries. Its members can watch more than two billion hours of television (TV) shows and movies per month including original series documentaries and feature films on Internet-connected screen. The Company has three operating segments: Domestic streaming International streaming and Domestic DVD. The Domestic and International streaming segments derive revenues from monthly membership fees for services consisting of streaming content. The Domestic DVD segment derives revenues from monthly membership fees for services consisting of DVD-by-mail. Its members can play pause and resume watching all without commercials or commitments. Additionally in the United States its members can receive DVDs to their homes. The Company offers streaming service both domestically and internationally.